Canada pushes to finalize India trade partnership by year-end to diversify markets
Canada aims to wrap up a Comprehensive Economic Partnership Agreement with India before the year ends, part of a broader push to lessen reliance on the United States.
Canada’s foreign ministry announced that the Comprehensive Economic Partnership Agreement with India is slated to be signed by the end of the year, a keystone of Ottawa’s plan to diversify its trade portfolio away from the United States. Anita Anand emphasized the deal’s role in achieving a target to double non-U.S. trade over the next ten years. Maninder Sidhu, heading a record-size delegation of 300 Canadian firms, said negotiations have gained “energy, focus and momentum” after the fifth round of talks.
Discussions highlighted collaboration in clean technology, space, aerospace, agritech, LNG, LPG and nuclear fuel, aligning with India’s projected 70 % rise in energy demand by 2035. Sidhu also noted broader outreach, citing recent agreements with Indonesia, Ecuador and the United Arab Emirates, and ongoing talks with the EU, ASEAN and other partners. The initiative underscores Canada’s “Plan A” of market diversification to protect domestic businesses from over-reliance on a single market.
Why it matters
The deal would give Canada a major new market and reduce its economic dependence on the United States.
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